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23635 Twisting Falls Drive Spring, TX 77373

3 Beds 2 Baths 1,160 sqft Built 2004

$139,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $119.83
  • 4 Days on Market
  • MLS # : 83473678
  • Updated Date : 02/06/2021 at 11:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 1 full , 1 half
Listing Agent

Lions Gate Realty

Listing Agent's Description

This Move in ready 2 story townhome with detached garage in Spring Crossing has an Open floor plan with living/dining area, porcelain tile downstairs. All bedrooms are upstairs. The kitchen has a new Black Stainless Steel Refrigerator, Gas stove, new microwave, and separate breakfast area. There is a small storage closet in the backyard. Close to Bush Intercontinental Airport, major highways, schools, restaurants, and shopping areas. Never flooded. Welcome home

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Spring

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k270k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Spring

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9421932

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Gloria Marshall Elementary School Primary Regular 704 42 NA
Rickey C. Bailey Middle School Middle Regular 1,238 72 4
Spring High School High Regular 3,339 173 3

Gloria Marshall Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 42
NA
GreatSchools Rating

Rickey C. Bailey Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 72
4
GreatSchools Rating

Spring High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 173
3
GreatSchools Rating
 

$125,100$152,900$139,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$483
Property Tax -$309
Property Insurance -$106
HOA -$33
Property Management Fees -$99
CASH FLOW
$221

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$139,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,585

INVESTMENT

$42,585

Down Payment
$34,750
Rehab Estimate
$5,750
Closing Costs
$2,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$483

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $34,750
Loan Amount $104,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$18,292

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,250

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,082

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,125
1$1,1252$1,2493$1,2504$1,3255$1,375
$1,375
RENT COMPS ANALYSIS
  • 23635 Twisting Falls Drive Spring, TX 3
    • 3 beds 3 baths ∙ 1,160 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,160 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 2311 Spring Dusk Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1984
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.92
    •  
  • 2507 Spring Dusk Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1984
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.94
    •  
  • 23611 Twisting Falls Drive Spring, TX 4
    • 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 2007
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 23633 Wildwood Green Way Spring, TX 5
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2004
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
PROPERTY LISTING DETAILS
Victorino Cortez
1.832.588.4246
Lions Gate Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83473678
Last Updated: 02/06/2021
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